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He had $14,000 in his wallet so he didn't really lose it all. He only gets upset when he truly loses every dollar to his name because then he cant...

That is not how stats work. Bernoulli trials are independent and thus 50% would be the correct probability assuming it's a fair coin. Another way...

To be absolutely fair to BMJ, applied statistics is a very abstract concept that is not that intuitive or easy. And I got ninja'd but you got it...